Canadian telecom giant, BCE Inc. (NYSE: BCE) revealed on Wednesday that it was exploring strategic alternatives to enhancing shareholder value, including the possibility of going private.

BCE, the parent company of Bell Canada, said that it has entered into discussions with a group of leading Canadian pension funds to explore the possibility of taking the publicly-traded company private.

The group comprises the Canada Pension Plan Investment Board (CPPIB), the Caisse de depot et placement du Quebec and Canada's Public Sector Pension Investment Board (PSP Investments).

Additionally, private equity group Kohlberg Kravis Roberts and Co. (KKR) has also signed the agreement.

BCE denied reports that it was speaking with private equity groups last month. Pressure from investors, however, including the Ontario Teachers Pension Plan, the firm's largest shareholder, has driven the company to consider ways to boost its stock.

BCE noted that it will continue to explore other options, and no specific action is guaranteed.

Shares of BCE trading on the New York Stock Exchange jumped $2.03, or 6.33 percent, to close at $34.10.

Investment